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The Least-Squares Monte Carlo model (LSM model) has emerged as the derivative valuation technique with the greatest impact in current practice. As with other options valuation models, the LSM algorithm was initially posited in the field of financial derivatives and its extension to the realm of...
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This paper deals with a classic development question: how can the process of economic development - transition from stagnation in a traditional technology to industrialization and prosperity with a modern technology - be accelerated? Lewis (1954) and Rostow (1956) argue that the pace of...
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This paper investigates the influence of international openness on economic growth in a sample of 32 European economies …. The usual approach in the literature on the topic is to observe the impact of trade openness on growth. We, however …, broaden this standard approach and analyse not only economic aspect of openness but also socio-political aspect. In our …
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